Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) Short Interest Up 16.4% in February

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 92,800 shares, a growth of 16.4% from the February 13th total of 79,700 shares. Based on an average daily trading volume, of 978,200 shares, the short-interest ratio is presently 0.1 days. Currently, 3.1% of the company’s stock are sold short.

Sonnet BioTherapeutics Trading Up 2.1 %

SONN stock opened at $1.43 on Friday. The business’s fifty day moving average price is $1.55 and its two-hundred day moving average price is $2.37. Sonnet BioTherapeutics has a fifty-two week low of $1.30 and a fifty-two week high of $17.84.

Sonnet BioTherapeutics (NASDAQ:SONN) last released its earnings results on Thursday, February 13th. The company reported ($1.56) EPS for the quarter, beating the consensus estimate of ($11.12) by $9.56. The firm had revenue of $1,000 billion during the quarter.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital dropped their price objective on Sonnet BioTherapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, December 20th.

Institutional Trading of Sonnet BioTherapeutics

An institutional investor recently bought a new position in Sonnet BioTherapeutics stock. Virtu Financial LLC bought a new position in shares of Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 39,647 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned 1.30% of Sonnet BioTherapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 9.45% of the company’s stock.

Sonnet BioTherapeutics Company Profile

Sonnet BioTherapeutics Holdings, Inc, a biotechnology company, owns a platform for biologic medicines of single or bifunctional action. The company develops fully human albumin binding technology, which utilizes human single chain antibodies fragment that binds to and hitch-hikes on human serum albumin for transport to target tissues.